GPWA Times Magazine - Issue 16 - May 2011

The most elaborate scheme to circumvent the UIGEA, which makes it illegal for financial institutions to process unlawful gambling transactions, involved Elie and Campos. According to the indictment, Elie and some others approached Campos, who is part-owner of SunFirst Bank, about processing online poker transactions. “While expressing ‘trepidations,’ Campos allegedly agreed to process gambling transactions in return for a $10 million investment in SunFirst by Elie and an associate, which would give them a more than 30% ownership stake in the bank,” the indictment reads. “Campos also requested and received a $20,000 ‘bonus’ for his assistance. “In an e-mail, one of Elie’s associates boasted that they had ‘purchased’ SunFirst and that they ‘were looking to purchase’ a ‘grand total of 3 or 4 banks’ to process payments.” Campos was arrested in Las Vegas while Elie was arrested in Utah. Both have pled not guilty. Franzen, who is from Illinois, turned himself in to the FBI in New York. He has also pled not guilty. All three are out on bail while they await their trials. The DOJ says the other defendants are not in the U.S. and that it is working with Interpol to secure their arrests. As news of the indictments sank in, the various stages of grief kicked in. First came the anger and condemnation. ppapoker PokerPlayersAlliance “Online poker is not a crime and should not be treated as such.” ppapoker PokerPlayersAlliance Rep Frank “Go after the people responsible for empty houses, not full houses, joerogan Joe Rogan Dear s***** government, thanks for arresting people for internet poker while doing f*** all to the criminal bankers who stole billions. Then came the acceptance, particularly from affiliates. GPWA member UltimatePokerBonus: Just when things seem to be looking up - this happens. Playing at UB as we speak fine. While this really stinks, Tilt and Stars were pretty dumb in some of their marketing efforts. Why are you advertising on US TV and even hosting shows that you sponsor? Stars Million Dollar Challenge was an idiotic move on their part. You are doing some- thing illegal in the government’s eyes and basically rubbing their face in it by hosting this show. Respect your adversary and don’t piss them off! GPWA member LazyRiver: On the side note, it is funny to see how fast the vultures are smell- ing the blood. As an European affiliate, I am receiving stream of newsletters from ALL (yes, all) my European partners, who are working so hard (including Sunday afternoon...) to remind me how legit and secure they are, how their EU licences are in line with the law and what an excellent moment it is to promote their poker offerings to players who “may be experiencing some uncertainties for the next couple of weeks.” They must have had hard time withdrawing from US market in 2006, now as I am reading all that I can hear the champagne popping... Another coping mechanism, especially for players, was a bit of gallows humor. taopauly Pauly This week was the wrong week to go on the wagon and give up pharmies. MicheleLewis Michele Lewis Dear @WSOP regulated market share now open in DC with minimal competition. EdogPoker Erick Lindgren This is all clearly the fault of @RealKidPoker I told him if he ever started beating online poker the world would end. TexDolly Doyle Brunson Now maybe we will see if these online “superstars” can play real poker. Ante up suckers! NormanChad Norman Chad If Obama played online poker, I guarantee you the U.S. Attorney’s Office for the Southern District of New York would’ve been shut down. Of course, some had a greater sense of irony than others. Erik_Seidel Erik Seidel Just got back from a camping trip...so peaceful. Anyone else having trouble logging in? SPECIAL REPORT Special Report